Pakistan - Second Water and Power Development Authority (WAPDA) Power Project
Erh-Cheng Hwa
The Second Water and Power Development Authority (WAPDA) Power Project in Pakistan was successfully completed. The Bank maintained good relations with the Borrower and the Beneficiary during loan processing and project implementation. The Project was entirely satisfactory in that the power transmission facilities were completed, and are functioning properly. This work was done at a substantially lower cost than was originally estimated. Eventually almost US$20 million of the Loan had to be cancelled. Financially, WAPDA's position had improved considerably by the time the Project was completed. This was the result of tariff increases generally following the plan devised by the Bank at appraisal. Thus, WAPDA's progress during the Project was mixed. It was quite adequate in the context of the Project, but in broader terms, fundamental problems remain to be resolved, specifically, the ones noted above. These are being addressed under the Fourth and Fifth Power Projects, and the Energy Sector Loan.
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